eSolar Gets $130 Million From Google and Others

eSolar employees put the final touches on the mirrors used to focus sunlight.

eSolar is a startup company which is in the process of building solar thermal power plants. It was one of the first startups to earn financial support from Google. This morning it received $130 millions dollars in funding from Google.Org, Bill Gross’ Idealab, Oak Investment Partners, and other smaller investors. The company says it will have a power plant up and running later this year in southern California.

Designed to address the complex issues surrounding large or utility-scale power projects, eSolar’s distributed solar thermal plants achieve economies of scale at 33 MW, and are modularly scaled to fit the needs of large and small utilities.

In order to deliver on the promise of Big Solar, the typical utility-scale installation faces huge construction costs and requires large tracts of real estate, combined with expensive transmission line improvements to bring the power out of the deserts and into the cities. eSolar’s modular approach stands in direct contrast to this ‘bigger is better’ strategy. eSolar has replaced expensive steel, concrete, and brute force with inexpensive computing power and elegant algorithms. This new method of installing a solar power plant minimizes costly civil construction and the use of heavy equipment, dramatically reducing project cost and deployment time.

Centering on eSolar’s 33 MW pre-fab form-factor, the company’s modular design translates to minimal land requirements. The company’s solar power plant solutions are tailored to fit local resources and produce a low environmental footprint, favoring a straightforward siting and permitting process. Myriad locations combined with a multitude of interconnection options mean that eSolar can deliver more clean, carbon free power where it is needed: near the cities and towns where it is consumed.

Comments

That’s a very good news, because big companies behind this project are more than proficient in managing state of the art technological projects and bringing them into working phase. Google is also expert knowledge, networking, marketing, PR, and financial superpower, which could conduct any business activity totally differently and more successfully, than any other smaller company. (Leveraging of all activities, which google.org could perform/reach is truly immense.)

Google.org is doing great things for renewable energy. The Director of Climate Change for Google.org, Dan Reicher, will be speaking about renewable energy financing at the Renewable Energy Finance Forum-Wall Street on June 18-19, 2008 in NYC, along with all of the other executive for the big names in renewable energy financing: BP, Abengoa, Boeing Capital, GE, JPMorgan, First Solar, LDK Solar, SunPower, Citigroup…. learn more at http://www.reffwallstreet.com